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3. Defined Terms



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Past version: effective from Jan 5 2014 - Aug 20 2014.
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In the Law, unless the context indicates otherwise, the defined terms listed below shall have the corresponding meanings:

Term Definition
Authorised Firm a person who holds a Licence to carry on one or more Financial Services prescribed pursuant to Article 42(1)(a).
Authorised Individual a natural person who has been authorised by the DFSA to perform one or more Licensed Functions.
Authorised Market Institution a person who is licensed by DFSA in relation to the carrying on of one or more Financial Services prescribed pursuant to Article 42(1)(b).
Chairman of the DFSA the person appointed to the office of chairman of the DFSA, a Board Member and chairman of the DFSA Board of Directors, by the President.
Chief Executive the person appointed to the office of Chief Executive by the DFSA Board of Directors.
Collective Investment Prohibitions the general and marketing prohibitions prescribed under Articles 20, 21 and 50 of the Collective Investment Law 2010.
Companies Law DIFC law relating to the incorporation of Companies.
Companies Registrar the person appointed to the office of Registrar under the DIFC Companies Law 2004.
Board Member a person appointed to the office of Member of the DFSA Board of Directors.
Court the DIFC Court as established under Dubai Law.
director a director or equivalent member of an entity's governing body.
DFSA the Dubai Financial Services Authority.
DIFC the Dubai International Financial Centre.
DIFC Authority the executive body of the DIFC, established under Dubai Law.
DNFBP has the meaning prescribed in the Rules made pursuant to Article 60(6) of the Law.
Domestic Fund has the meaning given in Article 3 of Schedule 1 to the Collective Investment Law 2010.
Dubai Law has the meaning given in Article 2 of Schedule 1 to the Law.
Financial Markets Tribunal the Financial Markets Tribunal established pursuant to Article 31 of the Law.
Financial Promotion has the meaning given in Article 41A(3) of this Law.
Financial Promotions Prohibition the prohibition prescribed under Article 41A(1) of this Law.
Financial Services Prohibition the prohibition prescribed under Article 41 of this Law.
Financial Services Regulator a regulator of financial services activities established in a jurisdiction other than the DIFC.
Fund Manager has the meaning given in Article 20(4) of the Collective Investment Law 2010.
Fund has the meaning given in Article 3 of Schedule 1 to the Collective Investment Law 2010.
Guidance has the meaning given in Article 2 of Schedule 1 to the Law.
Law the Regulatory Law 2004.
legislation includes rules or regulations made under legislation.
Licence a licence granted by the DFSA under Chapter 2 of Part 3.
Licensed Function a function prescribed pursuant to Article 43(1).
person has the meaning given in Article 1 of Schedule 1 to the Law.
President the president of the DIFC, appointed by a decree of the Ruler pursuant to Dubai Law.
Privileged Communication a communication attracting a privilege arising from the provision of professional legal advice and any other privilege applicable at law, but does not include a general duty of confidentiality.
Public Listed Company has the meaning given to that term in Article 97(2) of this Law.
Recognised Person has the meaning given in Article 37(3) of the Markets Law [2011].
Regulatory Appeals Committee a standing committee of the DFSA Board of Directors, established under and governed by Chapter 4 of Part 2 of the Law and includes a sub-committee constituted under Article 29 of this Law.
Respondent a person who is the subject of a matter before a Financial Markets Tribunal or the Court.
Ruler the ruler of the Emirate of Dubai.
Rules has the meaning given in Article 2 of Schedule 1 to the Law.
Schedule a schedule to the Law.
Special Resolution has the meaning given in Article 3 of Schedule 1 to the Collective Investment Law 2010.
Trustee has the meaning given in Article 2 of Schedule 1 to the Investment Trust Law 2006.
Unitholder has the meaning given in Article 3 of Schedule 1 to the Collective Investment Law 2010.